BTIG Research Reiterates Buy Rating for Boot Barn (NYSE:BOOT)

Boot Barn (NYSE:BOOT)‘s stock had its “buy” rating reaffirmed by equities research analysts at BTIG Research in a report issued on Tuesday, Benzinga reports. They currently have a $215.00 price target on the stock. BTIG Research’s price target indicates a potential upside of 50.33% from the stock’s current price.

Other equities research analysts have also recently issued reports about the stock. TD Cowen cut their price objective on shares of Boot Barn from $225.00 to $190.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. Stephens increased their target price on shares of Boot Barn from $196.00 to $207.00 and gave the company an “overweight” rating in a research report on Monday, August 10th. Robert W. Baird set a $212.00 target price on shares of Boot Barn in a research note on Thursday, July 30th. UBS Group set a $225.00 price target on shares of Boot Barn in a research report on Wednesday, June 17th. Finally, Weiss Ratings lowered shares of Boot Barn from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, August 18th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $219.55.

Boot Barn Price Performance

BOOT opened at $143.01 on Tuesday. Boot Barn has a 12 month low of $133.18 and a 12 month high of $210.25. The stock has a market cap of $4.33 billion, a P/E ratio of 18.10, a P/E/G ratio of 0.93 and a beta of 1.70. The stock’s 50 day moving average price is $155.98 and its 200 day moving average price is $160.73.

Boot Barn (NYSE:BOOT) last announced its earnings results on Wednesday, July 29th. The company reported $2.29 earnings per share for the quarter, beating the consensus estimate of $1.69 by $0.60. Boot Barn had a return on equity of 18.78% and a net margin of 10.35%.The firm had revenue of $593.51 million for the quarter, compared to the consensus estimate of $583.15 million. During the same quarter in the previous year, the business earned $1.74 EPS. The firm’s revenue for the quarter was up 17.7% on a year-over-year basis. Boot Barn has set its FY 2027 guidance at 8.800-9.230 EPS and its Q2 2027 guidance at 1.550-1.650 EPS. Equities analysts anticipate that Boot Barn will post 9.18 EPS for the current year.

Institutional Investors Weigh In On Boot Barn

A number of institutional investors and hedge funds have recently modified their holdings of BOOT. California State Teachers Retirement System grew its holdings in shares of Boot Barn by 15,740.5% in the 2nd quarter. California State Teachers Retirement System now owns 5,763,249 shares of the company’s stock worth $946,729,000 after acquiring an additional 5,726,866 shares during the last quarter. BlackRock Inc. acquired a new stake in shares of Boot Barn during the second quarter worth $840,629,000. Goldman Sachs Group Inc. lifted its holdings in shares of Boot Barn by 38.5% during the fourth quarter. Goldman Sachs Group Inc. now owns 723,309 shares of the company’s stock valued at $127,642,000 after purchasing an additional 200,971 shares during the last quarter. Wellington Management Group LLP boosted its position in shares of Boot Barn by 12.2% in the 2nd quarter. Wellington Management Group LLP now owns 773,749 shares of the company’s stock valued at $127,104,000 after purchasing an additional 84,250 shares during the period. Finally, Squarepoint Ops LLC boosted its position in shares of Boot Barn by 21.6% in the 4th quarter. Squarepoint Ops LLC now owns 578,318 shares of the company’s stock valued at $102,056,000 after purchasing an additional 102,857 shares during the period.

About Boot Barn

Boot Barn Holdings, Inc is a specialty retailer focused on Western and workwear products. The company sells a broad selection of footwear, clothing, accessories and related merchandise designed for customers interested in Western lifestyles, outdoor activities and occupational work.

Its product offerings include cowboy boots, work boots, jeans, shirts, jackets, hats, belts, jewelry and safety equipment. Boot Barn carries recognized third-party brands such as Ariat, Justin, Wrangler and Carhartt, along with private-label brands including Cody James, Shyanne, Hawx and Moonshine Spirit.

Founded in 1978 in Orange County, California, Boot Barn has expanded from a single store into a multichannel retailer operating physical stores and an e-commerce platform.